Quotes of the month

“Whenever there is a lot of clamour and controversy around sovereign debt relief from official creditors, if history is any guide, they then become very reluctant for new lending afterwards” 

Reza Baqir, head of sovereign debt advisory at Alvarez & Marsal, warns that new lending could become scarcer as sovereign difficulties worsen

“One of the takeaways I have is that when anyone considers some kind of new business, the experience with Libor should give us pause to think about why and how we are doing it to prevent problematic issues from the start”

Peter Phelan, chair of the Arrc and chief administrative officer of Citi’s institutional clients’ group, says that there are lessons to be learned from Libor’s trajectory

“Going through an uptick in defaults is a very good time to lend money”

Tim Flynn, chief executive of European alternatives manager Hayfin, sees opportunity in the current credit market conditions 

“When Covid hit there was a whole tsunami of change in customer expectations that came with it”

Sriram Muthukrishnan, group head of global transaction services product management at DBS Bank, explains how the pandemic transformed his business